Bharat Heavy Electricals Ltd (BHEL) has reported sustained traction in its non-thermal power businesses with respect to new order inflows.
In a presentation discussing the company performance during the first quarter (Q1: April to June) of FY27, BHEL said that it has witnessed sustained traction in non-thermal areas such as nuclear power, power transmission, defence, oil & gas and transportation.
During Q1FY27, BHEL’s new order inflow stood at Rs.26,745 crore that was dominated by the power sector (Rs.22,625 crore or around 84.5 per cent). The “industry” sector had a share of 6.6 per cent. The remaining 8.8 per cent (or Rs.2353 crore) was accounted for by exports.
BHEL classifies power transmission-related activities under the “Industry” sector. In Q1FY27, BHEL landed orders for 29 power transformers aggregating 5,430 MVA from power and industrial utilities.
As of June 30, 2026, BHEL’s outstanding order book was Rs.2,60,255 crore with the power sector, industry and exports commanding respective shares of 17 per cent and 2 per cent.
Non-thermal areas had a respectable share in BHEL’s outstanding order book. For instance, unexecuted power transmission-related orders, as of June 30, 2026, stood at around Rs.14,000 crore. Likewise, transportation with Rs.15,000 crore, nuclear with Rs.12,000 crore and coal-gasification with Rs.8,000 crore were important high-potential non-thermal areas.
The BHEL presentation observed that a record executable order book provides long-term revenue visibility. Nuclear energy, coal gasification and green hydrogen are the next engines of growth, the presentation remarked.
BHEL also said that business areas like HVDC-based green energy corridors, defence and rail mobility represent strong diversifications thereby reducing the dependence on any single sector.
Comparison with Q1FY26
Though the latest BHEL presentation did not provide figures for Q1FY26, based on information previously released by BHEL, it appears that total order inflow in Q1FY27 was nearly twice its comparable level of FY26. Likewise, the outstanding order book, as of June 30, 2026, was 27 per cent higher than that as of June 30, 2025.
The Q1FY27 was bolstered by a massive Rs.21,000 crore-plus order for the Meja thermal power plant in Uttar Pradesh. (Learn more)
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